China only represents a small fraction of corporate sales... if China is lucky... in 25 years it will represent a whopping 5% of corporate revenues...
Japan became a powerful industrial country because of the United States. The US was fighting a war in Korea and needed a cheap and efficient supply point. Japan was an ally in the fight against Communism so we restored their industrial base which had been completely destroyed during WW2. The little tigers (South Korea, Taiwan, Hong Kong and Singapore) had their industry built by Japanese industry in search of cheap labor and materials. The tigers are now competitors with Japan so Japan is turning to China to reduce costs.
It is foolish to project past numbers into the future and say "behold". Remember global warming and global cooling? Do you remember the amazing stock market and the world population crisis? The future cannot be predicted by trends. We can however look to the past for indicators. How long did it take Japan to become the number two economy? Counting from the Korean War (1950), it was roughly 20 years. The little tigers developed faster.
The withholding of R&D dollars or technology will not slow China down much. It will get to China even if the Chinese must steal it. Did you know that the secrets of the Industrial Revolution were stolen from England by American entrepreneurs? A strong China is something we will have to live with. Remember the Japan scares of the end of the 20th Century? The first US response was protectionism. American businesses died anyway. The second response came from the private sector. US businesses changed their practices and became stronger. Chinese competition will do the same.